Blue Ocean Acquisition Corp announced that it has entered into separate agreements for a private placement of 7,750,000 warrants or 8,650,000 if the underwriter’s over-allotment option is exercised in full, at a price of $1 per warrant for gross proceeds of $7,750,000 on November 9, 2021. The transaction will include participation from Blue Ocean Sponsor LLC for $7,650,000 and Apollo Spac Fund I, L.P., a fund managed by Apollo Capital Management, L.P. for $100,000. Each warrant is exercisable to purchase one Class A ordinary share at $11.50 per share, the warrants are redeemable and will become exercisable on the later of 30 days after the completion of our initial business combination and 12 months from the closing of this offering, and will expire five years after the completion of our initial business combination or earlier upon redemption or liquidation. The closing of the transaction will occur concurrently with the closing of the IPO of the company.